Arab Today, arab today kic to make additional investment in boamerrill lynch
Last Updated : GMT 12:04:57
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KIC to make additional investment in boa-merrill lynch

Arab Today, arab today

Arab Today, arab today KIC to make additional investment in boa-merrill lynch

Seoul - Yonhap

South Korea\'s sovereign wealth fund Korea Investment Corp. (KIC) is considering making an additional investment in BoA-Merrill Lynch even as it suffered heavy losses from its original investment, a report said Monday. In 2008, KIC invested US$2 billion in Merrill Lynch, but it suffered heavy valuation losses worth around $1.5 billion from its investment, hit by the global financial crisis. Merrill Lynch was later purchased by Bank of America.

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